Published in News
HP will be broken for four more years
Meg Whitman admits that it will take ages
HP is in such a poor state, thanks to the antics of its previous CEOs, that it will take at least four years to turn the mess around. That is the message of trouble shooter Meg Whitman to financial analysts yesterday.
Whitman said that HP was not as competitive as it needed to be and while she had managed to improve morale at the failing company it would take time to sort things out. Part of the problem is that the economy is rubbish anyway and will be for most of next year. The other issue is that HP's own IT is rubbish. HP has not had "a compelling sales management system or CRM system for years," said Whitman.
She had to rush around to Salesforce.com to sort this out. Whitman is also she is involved in a product cull and will axe more than half of the companies products by next year. Financial analysts were a little shocked that Whitman's turnaround plans that will takes HP to "industry leading margins" won't be accomplished until 2016. But hell what are they going to do?